US, UK, China economies weakening further: OECD
PARIS, July 8
The US, UK and Chinese economies are showing fresh signs of weakening while activity in the eurozone as a whole is firming up, the Organisation for Economic Co-operation and Development (OECD) said today.
The OECD’s monthly leading indicator, a measure designed to flag turning points in the international economy, showed dips for the United States, the United Kingdom and other key economies such as China and Brazil in May.
The indicator, a synthetic index where 100 is the long-term average, fell to 99.5 in the United States from 99.6 in April.
The index remained at 100.7 in the eurozone for the third consecutive month but eased to 99.8 from April’s 100 in the United Kingdom.
China’s reading declined to 97.3 from 97.5 and Brazil’s to 98.8 from 99.1. The index was stable in Japan at 99.9.